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China central SOEs profits grow slightly to $178 billion

Staff Writer | January 14, 2017
China's state-owned enterprises (SOEs) administered by the country's state-asset regulator saw profits slightly up in 2016.
China SOE
Business in China   China has 102 centrally administered SOEs
Central SOEs made total profits of 1.23 trillion yuan ($178 billion), up 0.5 percent year on year, the State-owned Assets Supervision and Administration Commission said in a statement.

Growth picked up from a 5.6-percent decrease in 2015. Revenues of these companies rose 2.6 percent year on year to 23.4 trillion yuan.

Some 96 central SOEs reported year-on-year profit growth last year, the statement said.

China has 102 centrally administered SOEs, which manage the bulk of the country's state assets.